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18 June 11:57 PM

Ratings

The Middle East listed banks reduce competition and increase their expertise
16 June 11:02 AM Saudi Arabia, UAE dominate Forbes Middle East’s top 50 listed banks
Mubasher: Saudi and Emirati banks had the most entries in Forbes Middle East’s Top 50 Banks in The Middle East list for 2021 with 10 financial institutions each. Qatar National Bank topped the region’s listed banks with profits of $3.3 billion and …
Ratings
Bahri advanced 36 positions within two years
10 June 05:17 PM Bahri ranks 40th on Forbes Middle East’s top 100 list
Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) has come in the 40th place on Forbes Middle East’s list of the top 100 companies for 2021, according to a press release on Thursday. Bahri advanced 36 positions within two years …
Ratings
Moody's expects adjusted gross debt to EBITDA of 3.5 times in 2021
10 June 12:28 PM Moody's affirms Aldar's Baa2 issuer ratings; outlook stable
UAE - Mubasher: Moody's Investors Service (Moody's) has affirmed Aldar Properties' (Aldar) Baa2 issuer ratings, with a stable outlook. Affirming the rating reflects Aldar's solid credit metrics in 2020 despite the coronavirus (COVID-19) pandemic, …
Ratings
Zain KSA topped all the indicators including the mobile 5G average download speed
9 June 11:06 AM Zain KSA tops Saudi Arabia’s 5G services in Q1
Riyadh – Mubasher: Mobile Telecommunications Company (Zain KSA) has come in the first place in terms of delivering the best 5G services in Saudi Arabia during the first quarter (Q1) of 2021, according to a Meqyas report issued by the …
Ratings
Moody’s reviewed the downgrade initiated in November 2020
9 June 10:36 AM Moody’s affirms Buruj’s rating at ‘Baa2’; outlook changed to ‘Stable’
Riyadh – Mubasher: Moody’s Investors Service has confirmed the ‘Baa2’ insurance financial strength rating (IFSR) of Buruj Cooperative Insurance Company, according to a disclosure to Tadawul on Wednesday. The rating agency has also changed the …
Ratings
The rating is driven by the benefits of the emirate's membership in the UAE
8 June 03:42 PM Fitch Ratings affirms Ras Al Khaimah's IDR at 'A'; outlook stable
UAE - Mubasher: Fitch Ratings has affirmed Ras Al Khaimah's (RAK) Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A', with a stable outlook. The rating is driven by the benefits of the emirate's membership in the UAE, low government …
Ratings
The rating reflects EDB’s strategy to support the UAE’s economic diversification
7 June 11:28 AM S&P assigns Emirates Development Bank 'AA-' issuer rating; outlook stable
UAE - Mubasher: S&P Global Ratings has assigned Emirates Development Bank (EDB), fully owned by the UAE federal government, 'AA-' long-term issuer credit rating, with a stable outlook, the Emirates News Agency (WAM) reported. The bank has also …
Banking and Finance
The bonds' rating comes in line with ADNOC's long-term IDR of 'AA'
6 June 01:29 PM Fitch assigns ADNOC's $1.195bn exchangeable bonds 'AA' final rating
UAE – Mubasher: Fitch Ratings has assigned Abu Dhabi National Oil Company's (ADNOC) $1.195 billion exchangeable bonds a final senior unsecured rating of 'AA'. The bonds' rating comes in line with ADNOC's long-term issuer default rating (IDR) of …
Bonds
Moody's has affirmed the Baa3 long-term senior unsecured rating of its subsidiary
3 June 04:25 PM Moody's affirms Dubai Aerospace's Baa3 issuer rating; revises outlook to stable
UAE – Mubasher: Moody's Investors Service (Moody's) has affirmed the Baa3 issuer rating of Dubai Aerospace Enterprise (DAE) while revising the outlook to stable from negative. Moody's has also affirmed the Baa3 long-term senior unsecured rating of …
Ratings
FAB has a strong ESG risk assessment in its banking operations
2 June 11:12 AM MSCI upgrades FAB's ESG rating to AA
Abu Dhabi – Mubasher: MSCI has upgraded the environmental, social responsibility, and governance (ESG) rating of First Abu Dhabi Bank (FAB) from A to AA, listing the bank in the 'leader' category. The rating upgrade was driven by the reassessment …
Ratings
The rating agency has rated the UAE's fiscal strength at 'aa1'
27 May 01:28 PM Moody's rates UAE's credit profile at 'Aa2', economic strength at 'aa3'
UAE - Mubasher: Moody's Investors Service (Moody's) has assigned the UAE government's credit profile at 'Aa2' stable and the country's economic strength at 'aa3', according to Moody's annual credit analysis. The 'Aa2' rating of the UAE government …
Ratings
The global rating agency also downgraded the bank's VR to 'b'
27 May 11:28 AM Fitch Ratings affirms CBI's IDR at 'BBB+'; outlook stable
Abu Dhabi - Mubasher: Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Commercial Bank International (CBI) at 'BBB+', with a stable outlook. The global rating agency also downgraded the bank's Viability Rating (VR) to 'b' …
Banking and Finance
The outlook is also based on potential asset quality pressures
26 May 04:42 PM Moody's affirms CBD's rating at 'Baa1/P-2'; outlook negative
Dubai – Mubasher: Moody's Investors Service (Moody's) has affirmed the long-term and short-term deposit ratings of Commercial Bank of Dubai (CBD) at Baa1/P-2, with a negative outlook. The global rating agency has affirmed the bank's Baseline …
Banking and Finance
The rating agency has also downgraded the bank's BCA
26 May 01:47 PM Moody's downgrades Sharjah Islamic Bank to 'Baa1'; outlook negative
Abu Dhabi – Mubasher: Moody's Investors Service (Moody's) has downgraded Sharjah Islamic Bank’s (SIB) local and foreign currency long-term issuer ratings to Baa1 from A3, with a negative outlook. The rating agency has also downgraded the bank's …
Banking and Finance
Fitch sees the transaction as a Distressed Debt Exchange
25 May 01:17 PM Fitch downgrades Emirates REIT's rating to 'C' on distressed debt exchange
Dubai – Mubasher: Fitch Ratings has downgraded Emirates REIT's Long-Term Issuer Default Rating (IDR) to 'C' from 'B+' and the senior unsecured Sukuk trust certificates to 'C' from 'BB-'. Emirates REIT has proposed to convert its existing $400 …
Sukuk and Islamic Finance
The rating is supported by a high probability of support available to the bank
18 May 03:33 PM Fitch affirms Sharjah Islamic Bank’s rating at BBB+; outlook stable
Abu Dhabi – Mubasher: Fitch Ratings has affirmed Sharjah Islamic Bank’s (SIB) long-term issuer default rating (IDR) and viability rating (VR) at 'BBB+' and 'bb+', respectively, with a stable outlook.  The rating is supported by a high probability …
Banking and Finance
Fitch forecasts further pressure on CBD's asset quality and profitability
18 May 02:59 PM Fitch affirms Commercial Bank of Dubai's rating at 'A-' with stable outlook
Dubai – Mubasher: Fitch Ratings has affirmed Commercial Bank of Dubai's (CBD) long-term issuer default rating (IDR) and viability rating (VR) at 'A-' and 'bb+', respectively, with a stable outlook. The IDR rating was backed by support from the UAE …
Banking and Finance
Egypt’s GDP growth is forecast to slow to 2.5% in FY20/21
9 May 11:40 AM S&P Global affirms Egypt's sovereign credit rating at B; outlook stable
Cairo - Mubasher: S&P Global Ratings affirmed its 'B/B' long- and short-term foreign and local currency sovereign credit ratings on Egypt with a stable outlook.  “We expect Egypt's foreign exchange reserves and access to domestic and external debt …
Macroeconomics